Finance

Financing your next home in Türkiye is not a daunting task. There are options available to those who are willing to look  past what they are used to in their home country. The first option is the pay all upfront and if that is not possible, finance via bank through your country of origin or most likely,  finance through bank in Türkiye and the last option in the conventional sense is financing through the builder.

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1. Paying all upfront is always the best option. However, not everyone can or wants this option due to various reasons such as keeping their liquid cash available. But, for those who wish to live here all year round, they often sell their home and purchase outright with cash (considering monetary exchange rates). Others can get a line of credit on their existing home (if enough equity is available).

2. Mortgage (or Murabaha) from a Turkish bank can be arranged for foreign buyers. There are certain terms the buyers must adhere to, such as, property must have “iskan” (habitation license – showing the home meets government regulation to be livable or CO/certificate of occupancy) and has no debt against it. The financing amount will depend on if the property is a new construction or existing and its type, buyers’ income levels (cannot be more than a third of your income) and re-payment time limits, around 5 to 10 years.
3. Obtaining finance through the builder or the developer. Across the country and especially in major cities like Istanbul, the developers are willing to finance the purchase themselves over the period of 5 years maximum.
These properties are new projects and normally will need to put down payment of 30 to 50% and usually with 0% interest. Some of these properties can be off-plan units with discounted prices. There are many properties such as villas or apartments in major cities or coastal areas, etc. that can be considered.

Acra Realty has contractual agreements with some of the top builders that have been in business for decades in Türkiye and can provide information on locations and buildings that are currently available. Please contact us for more detailed information.